Majors would make a soft landing [Finance]
South Korean major shipbuilders’ Q4 2008 business results would make a soft landing, according to a forecast. Kyobo Securities estimated that shipbuilding firms’ profits in the fourth quarter of 2008 would decrease 2% on the average. It said t...
2009-01-22 15:24:28
Sungdong eyes 33: KRW3.3trn in revenue & 33 vessels complete [Shipbuilding]
Sungdong Shipbuilding & Marine Engineering, South Korean emerging shipyard which is rapidly growing into major class, set its business target for 2009 much higher against last year. Sungdong recently announced that it aims to achieve revenue of KR...
2009-01-22 13:45:56
Shipbuilders dispel recession fears: Bangladesh [Shipbuilding]
Shipyards in Bangladesh still receive enquiries from foreign buyers about building small vessels despite a downturn in the global shipbuilding industry amid an economic recession and uncertain demand outlook this year. They however said buyers now of...
2009-01-22 12:22:18
22 VLCCs utilised for oil storage [General]
Voyage movements and shipping fixtures suggest as many as 22 Very Large Crude Carriers and one Suezmax may be currently used for storing crude oil, a research analyst at shipbroker Simpson Spence and Young Ltd told Dow Jones on Wednesday. A furthe...
2009-01-22 12:12:34
World’s 2009 steel and iron output will drop by 10% approx... [Equipment]
Some international organizations and media have recently announced their forecasts on 2009 steel and iron market in succession. An analyst at Moody’s Investors Service (MIS) believes that 2009 steel and iron output will break the recent 60 year...
2009-01-22 12:12:02
Arbitration claims up 25% amid market slump [Shipping]
Arbitrators have been reporting a huge increase in appointments since last summer with some estimates that they are up by as much as 25% as a result of the market downturn. According to London Maritime Arbitrators Association committee member Mark...
2009-01-22 12:06:53
New recycling to help shipping industry [Shipping]
The new standard for ship recycling, ISO 30000, can help meet the challenges facing the ship demolition industry once the new (International Maritime Organisation) IMO International Convention for the Safe and Environmentally Sound Recycling of Ships...
2009-01-22 11:02:52
Scrapping increase: Smaller, Old LNG carriers [Shipping]
While a sense of surplus in the supply of LNG carriers is beginning to grip the market due to a shortage of cargo, the move to scrap superannuated and small LNG carriers for scrap is picking up steam among owners. According to overseas sources, Al...
2009-01-22 10:40:33
New order will come?: global economic downturn [Shipping]
China Classification Society general manager Chen Daoyu has predicted that the global economic downturn will create a new order for shipping. In a remarkably idealistic view of the future, Mr Chen said, impartiality and credibility would become ho...
2009-01-22 08:09:32
Failed Daewoo deal has high cost [Finance]
Following the rupture of a deal to sell a major stake in Daewoo Shipbuilding and Marine Engineering, both would-be buyer Hanwha Group and Daewoo creditor Korea Development Bank are faced with sizable losses and uncertainty. In addition to the 300 bil...
2009-01-22 08:03:24
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